
Martin Lewis shares tip for increasing pension fund by £5,000
The IndependentStay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about offers, events and updates from The Independent. Breaking down the process, Lewis said the first step is to “check your pension forecast and/or check how many national insurance years you have”. The change is less likely to affect young people, as they still have more time to earn the maximum state pension through working years or national insurance credits. A full voluntary national insurance year costs £800ish but could add up to an extra £275 annually to your state pension – so the break-even point is hit if you live just three years after getting your pension,” he explained. “If a man who’s reached age 66 lives the typical 19 more years, a woman 21 more years, then for EACH £800 spent, a man can expect to get £5,300 extra pension, a woman £5,800.” While this could benefit many, Lewis has warned that there are “many complex” factors involved and that these calculations may not be applicable to everyone.
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Martin Lewis lists four conditions that entitle state pensioners to an additional £109
Daily Mail
Martin Lewis reveals how you can boost your state pensions by thousands - but you'll have to be quick
Daily Mail
Martin Lewis issues warning to women over 66 after HMRC claim sees £17,000 payout
The Independent
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The Independent
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The Independent
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